The Wilshire Grand Redevelopment Project includes development on a 3.2-acre site located in the Central City (Downtown) area of the City of Los Angeles. The Project includes demolition of the existing Wilshire Grand Hotel and Centre, and the development of a maximum of 560 hotel rooms and/or condo-hotel units, 100 residential units, 1,500,000 square feet of office, 275,000 square feet of amenity areas including, but not limited to, project-serving retail and restaurant uses, conference and meeting rooms, ballrooms, spa, fitness center, and ancillary other hotel, residential, and office areas.

The Project includes a landscaped pedestrian plaza at the corner of Figueroa Street and 7th Street, as well as a rooftop helistop. Approximately 1,900 parking spaces will be provided in eight levels of subterranean parking.

The Project includes one approximately 65-story structure, no more than 1,250 feet in height, one approximately 45-story structure, no more than 750 feet in height, and an approximately six-story podium structure, no more than 168 feet in height.

__________________NEW YORK. World's capital.

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.

Looks great to me! If it does become the tallest in LA I'd imagine that it would help to factor in all the free publicity it would get by being the new building that's always getting destroyed by aliens/terrorists/nature in movies. That has to be worth something right?

Korean Air has retained Thomas Properties Group, Inc. to develop a one billion dollar mixed-use redevelopment plan for the nearly three-acre Wilshire Grand Hotel and office site on the southwest corner of Wilshire and Figueroa in the heart of the city’s financial district. The proposal envisions a nearly two million-square-foot signature development adding new Class A offices, condominiums and hotel space to the city’s urban core.
The proposal is to replace the existing complex with two high-rise towers, totaling approximately 1,750,000 square feet: a 40-story tower featuring a luxury hotel of up to 700 rooms topped by several floors of condominiums, and a 1,150,000-square-foot, 60-story office tower, connected with plazas and open space, designed to meet U.S. Green Building Council LEED certification standards.

‘This exciting and bold new project is a major step forward in our efforts to add green, multi-use developments to the center of our city,’ Mayor Villaraigosa said. ‘Standing just a few blocks from Staples Center and L.A. Live, the Wilshire Grand redevelopment effort will help revitalize downtown, and we look forward to seeing this proposal proceed through the public review process and produce a new landmark that benefits Los Angeles, the community, and the local economy.’

‘Downtown is continuing to evolve and it is rewarding to see that our collective vision for the area is inspiring private owners to re-imagine properties and shape them in a way that further enhances our community,’ said councilmember Jan Perry.

‘Thomas Properties Group has extensive experience with complex projects ranging from securing approvals through designing, developing and leasing. It is a highly regarded firm that has a long history in Los Angeles,’ said Y. H. Cho, Korean Air’s Chairman and CEO. ‘They will immediately begin working with the community and the city to begin the approval process.’

Korean Air acquired the current Wilshire Grand Hotel in 1989 under the name of Hilton Hotel & Towers. The airline also owns three hotels in Korea and another in Hawaii.

‘It is rare to have the opportunity to shape a new project on a full city block in the heart of a major metropolitan city center such as Los Angeles. With 2.7 acres, we can create a distinctive destination that is interconnected with the existing business, shopping and entertainment venues. As a property and business owner in downtown Los Angeles, we recognize the need for every development to enhance the walkability of our city and create a more vibrant street-level experience,’ said James A. Thomas, Chairman and CEO, Thomas Properties Group. ‘Now is a good time to be working through the approvals of a new development. Together with Korean Air, we are looking to the future of this property and how it can better serve the community of Los Angeles.’

Thomas Properties Group purchased the nearby 2.7 million-square foot City National Plaza in 2003 and has completed a thorough restoration and repositioning of the iconic property. The firm is a leader in the management and development of sustainable and high-performance buildings.

A.C. Martin Partners are the architects designing the plans and buildings. Thomas Properties and A.C. Martin previously worked together on several projects including the CalEPA headquarters building in Sacramento that is the first LEED Platinum-certified high-rise in the United States.

Los Angeles has been the center of Korean Air’s operations in North and South America since its first transpacific flight in 1972. The airline now is the largest transpacific carrier out of LAX and operates 24 weekly flights between Los Angeles and Asia.

‘Korean Air has a long and deep-rooted commitment to Los Angeles,’ Cho said. ‘The Korean community here is the largest in the world outside of Seoul, and Korean Air is the largest transpacific carrier out of LAX. We have significant real estate holdings here and have a vested interest in Los Angeles’ success.’

Last edited by Totojuice; Oct 28, 2010 at 11:10 PM.
Reason: Added height to title

"....final planned height figures for the so-called "Wilshire-Grand Project" (Korean Air Towers) to be built in downtown L.A. The central office building will reach 65 floors and 1250 ft. That will make it the tallest building in Los Angeles.

The project includes a separate, 45 st hotel, and a commerical center. Construction is set to begin in 2011, with completion set for 2020.

The developers are currently seeking waivers from the City Planning Dept to permit electronic signage on the towers' glass and aluminum facades, ala Tokyo (or Bladerunner!)"

"....final planned height figures for the so-called "Wilshire-Grand Project" (Korean Air Towers) to be built in downtown L.A. The central office building will reach 65 floors and 1250 ft. That will make it the tallest building in Los Angeles.

The project includes a separate, 45 st hotel, and a commerical center. Construction is set to begin in 2011, with completion set for 2020.

The developers are currently seeking waivers from the City Planning Dept to permit electronic signage on the towers' glass and aluminum facades, ala Tokyo (or Bladerunner!)"

NO. WAY. This is epic news. Finally the West gets some supertall awesome sauce. On top of that, it will have freakin electronic signage on the tower itself (Or that's how I read it atleast), soooo awesome. I will be checking this thread as much as I do for the WTC buildings!

^ For the record, that article is from 2009. Jim Thomas of Thomas properties spoke recently at a downtown business event, and said that they plan to build this tower in "the next 3 years." So I don't think it's in any danger of starting construction soon.

Even if it did start soon, there's a very large hotel on the site at the moment that would have to be closed down and demolished, for which they don't even have the permits yet.

__________________"Then each time Fleetwood would be not so much overcome by remorse as bedazzled at having been shown the secret backlands of wealth, and how sooner or later it depended on some act of murder, seldom limited to once."

This project is a game changer like Jordan or Magic! No other way to put it. This development catapults LA leaps and bounds above the 2nd tier cities that embarrass LA on a consistent basis. Thank God for the Koreans and while we're at it, let's get some Middle East money here. Saudi, Emirates, all of that money, Chinese, we need it all. It's the international money that's going to drive LA real estate up to new heights. That being said, I can't wait for all that money to come over this way! And yes, what a way to kick off the 2010s for LA! Yeah!